The Data-Centric Security Market Size was valued at USD 5.29 Billion in 2023 and is expected to reach USD 28.9 Billion by 2031 and grow at a CAGR of 23.7 % over the forecast period 2024-2031.
The Growth of the data-centric security market is Driven by the imperative to safeguard, classify, and monitor highly sensitive data throughout its lifecycle. Factors such as government regulations, escalating data breaches, and the vast volume of data handled by businesses across diverse locations are driving the adoption of data-centric security strategies. This approach prioritizes securing data at its storage and processing points, rather than merely focusing on network infrastructure security. By implementing a zero-trust model, where user access is rigorously verified, organizations can significantly reduce cyber risks and enhance data protection measures.
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Concerning the sensitive information that the company gathers, stores, and manages. Pirates are particularly fond of money or payment information, intellectual property, and sensitive personal information about workers and customers. Data security refers to the processes and technology used to secure data, which is an important component of safeguarding your company's reputation and financial health. Data security includes authentication, access control, backups and recovery, encryptions, data masking, tokenization omission, and erasure.
Market Dynamics
Drivers:
Increasing need to discover, classify, and secure sensitive data throughout its lifecycle.
Growing government compliances and regulations related to data protection.
Rise in data breach incidents, emphasizing the importance of robust security measures.
Escalating volume of data stored and processed across various business locations.
Inadequate security in network servers and business applications, prompting a data-centric security approach.
Growing importance of securing sensitive information shared within organizations.
The increasing imperative to discover, classify, and protect sensitive data throughout its lifecycle is growing from heightened awareness of data vulnerabilities and the severe repercussions of data breaches. Businesses now place significant importance on shielding sensitive information from unauthorized access, tampering, or theft throughout its existence. This is amplified by expanding government regulations and compliance standards focusing on data privacy and protection, compelling organizations to fortify their security protocols. Adhering to these regulations not only mitigates potential penalties but also cultivates trust among customers and stakeholders regarding data security practices. The amalgamation of internal security priorities and external regulatory demands propels the widespread adoption of comprehensive data-centric security approaches within the market.
Restraints:
High implementation costs associated with data-centric security solutions.
Complexity in integrating data-centric security measures across diverse IT infrastructures.
Resistance to change and lack of awareness about the benefits of data-centric security.
Opportunities:
Adoption of advanced technologies such as AI and machine learning for enhanced data protection.
Expansion of data-centric security solutions in emerging markets and industries.
Increasing demand for cloud-based data security solutions.
Collaboration opportunities between cybersecurity companies and organizations to develop tailored data-centric security solutions.
Leveraging advanced technologies such as AI and machine learning offers a substantial opportunity to increase data protection efforts. These advanced tools excel at real-time analysis of large data sets, pinpointing anomalies, or potential threats, and automating responses, thereby enhancing overall security preparedness. The extension of data-centric security solutions into burgeoning markets and sectors creates fresh pathways for expansion and innovation. These markets often lack robust cybersecurity frameworks, rendering them susceptible to data breaches. By delivering customized data-centric security solutions to these sectors, companies can cater to pressing security requirements and position themselves as pivotal figures in the global cybersecurity arena.
Challenges:
Keeping pace with evolving cybersecurity threats and attack techniques.
Ensuring compliance with constantly changing data protection regulations.
Balancing data security with accessibility and usability for authorized users.
Addressing concerns about data privacy and ethical use of data in security practices.
Impact of Economic Downturn:
During an economic downturn, the data center security market tends to experience a mixed impact. On the one hand, there may be a slowdown in new data center construction and upgrades, leading to reduced spending on security solutions. The emphasis on protecting existing infrastructure often increases, driving investment in advanced security technologies. For example, during the financial crisis, the global data center security market witnessed a slight decline in growth rate, dropping from around 14% to 9% annually. This fluctuation highlights the complex relationship between economic conditions and the demand for data center security solutions.
Impact of Russia-Ukraine War
The Russia-Ukraine war can significantly impact the data center security market due to potential disruptions in supply chains, increased cyber threats, and geopolitical uncertainties. Organizations may prioritize robust security measures to safeguard against cyberattacks and data breaches arising from geopolitical tensions. This could lead to delays in deploying new security solutions and drive-up costs. Sanctions on Russia and the disruption of global energy markets have caused energy prices to soar.
Market segmentation
By Component
Software
Solution
Professional Services
By Deployment
On-Premise
Cloud
By Organization Size
Large Enterprise
SME
The large enterprise sector dominated the data-centric security market with holding revenue share of more than 52% market share, driven by increasing cyberattacks targeting their extensive data storage and resource access. These attacks' complexity has necessitated advanced cybersecurity measures like data-centric security solutions, offering improved visibility for monitoring, enforcing data protection policies, and timely incident response. Concurrently, the Small & Medium-sized Enterprise (SME) segment is poised for significant growth during the forecast period, Drive by rising cybersecurity awareness among SMEs facing sophisticated cyber threats Such as phishing, ransomware, and data breaches. This surge in security attacks emphasizes the urgency for SMEs to safeguard their data assets and sensitive information through data-centric security solutions.
By Vertical
IT and Enterprises
Telecommunication
Government
BFSI
Retail & Consumer Goods
Defense
Others
On the basis of vertical, The BFSI segment Dominates the market with holding revenue share of More than 25%, given its storage of valuable personal, financial, and proprietary data, making it a prime target for cyber threats. The rising complexity and frequency of such attacks underscore the urgent need for robust data security solutions, spurring the demand for data-centric security measures. The adoption of cloud infrastructure in BFSI for scalability and cost efficiency introduces security challenges, emphasizing the need for data-centric security to address data privacy concerns in cloud environments. The IT & telecom segment is growing with the highest CAGR from 2024 to 2031, driven by escalating data volumes and the industry's focus on secure data access for clients. Companies within this sector are striving to enhance brand positioning and revenue streams by offering tailored, industry-specific data-centric security solutions.
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Regional Analysis
The North America region Dominate the data-centric security market with holding revenue share of more than 34%, driven by increasing cyberattacks targeting government agencies, corporations, key infrastructure projects, and individuals. The region's dynamic and complex cyber threat landscape necessitates robust data-centric security solutions, supported by the presence of major players such as Microsoft, IBM, and McAfee. The stringent government regulations such as CCPA and GDPR fuel the demand for advanced cybersecurity solutions to avoid legal and financial repercussions.
The Asia Pacific region is growing with the fastest CAGR, driven by digitalization, AI, IoT adoption in countries such as India, Australia, South Korea, and China, leading to massive data assets requiring protection from diverse cyber threats. Government regulations like ITA in India and Cybersecurity Act in Singapore further contribute to the rising demand for data-centric security in the region.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Key Players
The major key players are Broadcom Inc., Forcepoint, IBM Corporation, Imperva, Informatica, Micro Focus, Netapp, Inc., Orange Cyberdefense, Talend S.A., Varonisand other players mentioned in the final report.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | USD 5.29 Billion |
| Market Size by 2031 | USD 28.9 Billion |
| CAGR | CAGR 23.7% From 2024 to 2031 |
| Base Year | 2022 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Component (Software, Solution, Professional Services) • By Deployment (On-Premise, Cloud) • By Organization Size (SMEs And Large Enterprises) • By Vertical (IT and Enterprises, Telecommunication, Government, BFSI, Healthcare, Retail & Consumer Goods, Defense, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Broadcom Inc., Forcepoint, IBM Corporation, Imperva, Informatica, Micro Focus, Netapp, Inc., Orange Cyberdefense, Talend S.A., and Varonis |
| Key Drivers | •Demand for data-centric security solutions is increasing. •Data-centric security solutions are being used as a result of stringent restrictions. |
| Market Restraints | •Tolerance of the organization for security breaches caused by internal weaknesses. |
Ans. The Compound Annual Growth rate for the Data-Centric Security Market over the forecast period is 23.7%.
Ans: The BFSI Vertical segment dominated the Data-Centric Security Market.
Ans. The projected market size for the Data-Centric Security Market is USD 28.9 billion by 2031.
Ans: North America region is dominant in Data-Centric Security Market.
Ans:
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.9 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Data-Centric Security Market Segmentation, By Component
9.1 Introduction
9.2 Trend Analysis
9.3 Software
9.4 Solution
9.5 Professional Services
10. Data-Centric Security Market Segmentation, By Deployment
10.1 Introduction
10.2 Trend Analysis
10.3 On-Premise
10.4 Cloud
11. Data-Centric Security Market Segmentation, By Organization Size
11.1 Introduction
11.2 Trend Analysis
11.3 Large Enterprise
11.4 SME
12. Data-Centric Security Market Segmentation, By Vertical
12.1 Introduction
12.2 Trend Analysis
12.3 IT and Enterprises
12.4 Telecommunication
12.5 Government
12.6 BFSI
12.7 Healthcare
12.8 Retail & Consumer Goods
12.9 Defense
12.10 Others
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Eastern Europe
13.3.1.1 Poland
13.3.1.2 Romania
13.3.1.3 Hungary
13.3.1.4 Turkey
13.3.1.5 Rest of Eastern Europe
13.3.2 Western Europe
13.3.2.1 Germany
13.3.2.2 France
13.3.2.3 UK
13.3.2.4 Italy
13.3.2.5 Spain
13.3.2.6 Netherlands
13.3.2.7 Switzerland
13.3.2.8 Austria
13.3.2.9 Rest of Western Europe
13.4 Asia-Pacific
13.4.1 China
13.4.2 India
13.4.3 Japan
13.4.4 South Korea
13.4.5 Vietnam
13.4.6 Singapore
13.4.7 Australia
13.4.8 Rest of Asia Pacific
13.5 The Middle East & Africa
13.5.1 Middle East
13.5.1.1 UAE
13.5.1.2 Egypt
13.5.1.3 Saudi Arabia
13.5.1.4 Qatar
13.5.1.5 Rest of the Middle East
13.5.2 Africa
13.5.2.1 Nigeria
13.5.2.2 South Africa
13.5.2.3 Rest of Africa
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Colombia
13.6.4 Rest of Latin America
14. Company Profiles
14.1 Broadcom Inc.
14.1.1 Company Overview
14.1.2 Financials
14.1.3 Products/ Services Offered
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 Forcepoint
14.2.1 Company Overview
14.2.2 Financials
14.2.3 Products/ Services Offered
14.2.4 SWOT Analysis
14.2.5 The SNS View
14.3 IBM Corporation
14.3.1 Company Overview
14.3.2 Financials
14.3.3 Products/ Services Offered
14.3.4 SWOT Analysis
14.3.5 The SNS View
14.4 Imperva
14.4 Company Overview
14.4.2 Financials
14.4.3 Products/ Services Offered
14.4.4 SWOT Analysis
14.4.5 The SNS View
14.5 Informatica
14.5.1 Company Overview
14.5.2 Financials
14.5.3 Products/ Services Offered
14.5.4 SWOT Analysis
14.5.5 The SNS View
14.6 Micro Focus
14.6.1 Company Overview
14.6.2 Financials
14.6.3 Products/ Services Offered
14.6.4 SWOT Analysis
14.6.5 The SNS View
14.7 Netapp, Inc.
14.7.1 Company Overview
14.7.2 Financials
14.7.3 Products/ Services Offered
14.7.4 SWOT Analysis
14.7.5 The SNS View
14.8 Orange Cyberdefense
14.8.1 Company Overview
14.8.2 Financials
14.8.3 Products/ Services Offered
14.8.4 SWOT Analysis
14.8.5 The SNS View
14.9 Talend S.A.
14.9.1 Company Overview
14.9.2 Financials
14.9.3 Products/ Services Offered
14.9.4 SWOT Analysis
14.9.5 The SNS View
14.10 Varonis
14.10.1 Company Overview
14.10.2 Financials
14.10.3 Products/ Services Offered
14.10.4 SWOT Analysis
14.10.5 The SNS View
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
15.3.1 Industry News
15.3.2 Company News
15.3.3 Mergers & Acquisitions
16. USE Cases and Best Practices
17. Conclusion
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